Description of Firm
Sea Hunter Capital LLC d/b/a Castle Island Wealth is a registered investment adviser based in West
Palm Beach, Florida. We are organized as a limited liability company ("LLC") under the laws of the
State of Florida. We have been providing investment advisory services since January 2018. We are
owned by Kevin McCluskey.
The following paragraphs describe our services and fees. Refer to the description of each investment
advisory service listed below for information on how we tailor our advisory services to your individual
needs. As used in this brochure, the words "we," "our," and "us" refer to Castle Island Wealth and the
words "you," "your," and "client" refer to you as either a client or prospective client of our firm.
Portfolio Management Services
We offer discretionary and non-discretionary portfolio management services. Our investment advice is
tailored to meet our clients' needs and investment objectives. If you retain our firm for portfolio
management services, we will meet with you to determine your investment objectives, risk tolerance,
and other relevant information at the beginning of our advisory relationship. We will use the information
we gather to develop a strategy that enables our firm to give you continuous and focused investment
advice and/or to make investments on your behalf. As part of our portfolio management services, we
may customize an investment portfolio for you according to your risk tolerance and investing
objectives. We may also invest your assets using a predefined strategy, or we may invest your assets
according to one or more model portfolios developed by our firm. Once we construct an investment
portfolio for you, or select a model portfolio, we will monitor your portfolio's performance on an ongoing
basis, and will rebalance the portfolio as required by changes in market conditions and in your financial
circumstances.
In order to provide discretionary portfolio management services, we require you to grant our firm
discretionary authority to manage your account. Discretionary authorization will allow us to determine
the specific securities, and the amount of securities, to be purchased or sold for your account without
your approval prior to each transaction. Discretionary authority is typically granted by the investment
advisory agreement you sign with our firm and the appropriate trading authorization forms.
If you enter into non-discretionary arrangements with our firm, we must obtain your approval prior to
executing any transactions on behalf of your account. You have an unrestricted right to decline to
implement any advice provided by our firm on a non-discretionary basis.
As part of our portfolio management services, we may use one or more sub-advisers to manage a
portion of your account on a discretionary basis. The sub-adviser(s) may use one or more of their
model portfolios to manage your account. We will regularly monitor the performance of your accounts
managed by sub-adviser(s), and may hire and fire any sub-adviser without your prior approval. We
may pay a portion of our advisory fee to the sub-adviser(s) we use; however, you will not pay our firm a
higher advisory fee as a result of any sub-advisory relationships.
As discussed above, we may invest your assets according to one or more model portfolios developed
by our firm. These models are designed for investors with varying degrees of risk tolerance ranging
from a more aggressive investment strategy to a more conservative investment approach. Clients
whose assets are invested in model portfolios may not set restrictions on the specific holdings or
allocations within the model, nor the types of securities that can be purchased in the model.
Nonetheless, clients may impose restrictions on investing in certain securities or types of securities in
their account. In such cases, this may prevent a client from investing in certain models that are
managed by our firm.
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Financial Planning Services
We offer financial planning services which typically involve providing a variety of advisory services to
clients regarding the management of their financial resources based upon an analysis of their
individual needs. These services can range from broad-based financial planning to single subject
planning. If you retain our firm for financial planning services, we will meet with you to gather
information about your financial circumstances and objectives. We may also use financial planning
software to determine your current financial position and to define and quantify your long-term goals
and objectives. Once we specify those long-term objectives (both financial and non-financial), we will
develop shorter-term, targeted objectives. Once we review and analyze the information you provide to
our firm and the data derived from our financial planning software, we will deliver a written plan to you,
designed to help you achieve your stated financial goals and objectives.
Financial plans are based on your financial situation at the time we present the plan to you, and on the
financial information you provide to us. You must promptly notify our firm if your financial situation,
goals, objectives, or needs change. You are under no obligation to act on our financial planning
recommendations. Should you choose to act on any of our recommendations, you are not obligated to
implement the financial plan through any of our other investment advisory services. Moreover, you may
act on our recommendations by placing securities transactions with any brokerage firm.
Financial Consulting Services
We offer financial consulting services that primarily involve advising
clients on specific financial-related
topics. The topics we address may include, but are not limited to, risk assessment/management,
investment planning, financial organization, or financial decision making/negotiation.
Pension Consulting Services
We offer pension consulting services to employee benefit plans and their fiduciaries based upon the
needs of the plan and the services requested by the plan sponsor or named fiduciary. In general, these
services may include an existing plan review and analysis, plan-level advice regarding fund selection
and investment options, education services to plan participants, investment performance monitoring,
and/or ongoing consulting. These pension consulting services will generally be non-discretionary and
advisory in nature. The ultimate decision to act on behalf of the plan shall remain with the plan sponsor
or other named fiduciary.
We may also assist with participant enrollment meetings and provide investment-related educational
seminars to plan participants on such topics as:
•Diversification
•Asset allocation
•Risk tolerance
•Time horizon
Our educational seminars may include other investment-related topics specific to the particular plan.
We may also provide additional types of pension consulting services to plans on an individually
negotiated basis. All services, whether discussed above or customized for the plan based upon
requirements from the plan fiduciaries (which may include additional plan-level or participant-level
services) shall be detailed in a written agreement and be consistent with the parameters set forth in the
plan documents.
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Selection of Other Advisers
We may recommend that you use the services of a third party money manager ("TPMM") to manage
all, or a portion of, your investment portfolio. After gathering information about your financial situation
and objectives, we may recommend that you engage a specific TPMM or investment program. Factors
that we take into consideration when making our recommendation(s) include, but are not limited to, the
following: the TPMM's performance, methods of analysis, fees, your financial needs, investment goals,
risk tolerance, and investment objectives. We will monitor the TPMM(s)' performance to ensure its
management and investment style remains aligned with your investment goals and objectives.
The TPMM(s) will actively manage your portfolio and will assume discretionary investment authority
over your account. We will assume discretionary authority to hire and fire TPMM(s) and/or reallocate
your assets to other TPMM(s) where we deem such action appropriate.
Wrap Fee Programs
We do not participate in any wrap fee program.
Types of Investments
We offer advice on stocks, exchange traded funds ("ETFs"), mutual funds, limited partnerships, money
market funds, municipal securities, options contracts on securities, United States government
securities, real estate, real estate investment trusts ("REITs"), Private Investment in Public Equities
("PIPEs"), and structured notes. Additionally, we may advise you on various types of investments
based on your stated goals and objectives. We may also provide advice on any type of investment
held in your portfolio at the inception of our advisory relationship. Refer to the Methods of Analysis,
Investment Strategies and Risk of Loss section below for additional disclosures on this topic.
Since our investment strategies and advice are based on each client's specific financial situation, the
investment advice we provide to you may be different or conflicting with the advice we give to other
clients regarding the same security or investment.
Rollover Recommendations
Effective December 20, 2021 (or such later date as the US Department of Labor ("DOL") Field
Assistance Bulletin 2018-02 ceases to be in effect), for purposes of complying with the DOL's
Prohibited Transaction Exemption 2020-02 ("PTE 2020-02") where applicable, we are providing the
following acknowledgment to you. When we provide investment advice to you regarding your
retirement plan account or individual retirement account, we are fiduciaries within the meaning of Title I
of the Employee Retirement Income Security Act and/or the Internal Revenue Code, as applicable,
which are laws governing retirement accounts. The way we make money creates some conflicts with
your interests, so we operate under a special rule that requires us to act in your best interest and not
put our interest ahead of yours. Under this special rule's provisions, we must:
•Meet a professional standard of care when making investment recommendations (give prudent
advice);
•Never put our financial interests ahead of yours when making recommendations (give loyal
advice);
•Avoid misleading statements about conflicts of interest, fees, and investments;
•Follow policies and procedures designed to ensure that we give advice that is in your best
interest;
•Charge no more than is reasonable for our services; and
•Give you basic information about conflicts of interest.
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We benefit financially from the rollover of your assets from a retirement account to an account that we
manage or provide investment advice, because the assets increase our assets under management
and, in turn, our advisory fees. As a fiduciary, we only recommend a rollover when we believe it is in
your best interest.
Assets Under Management
As of February 12, 2024, we provide continuous management services for $117,369,863 in client
assets on a discretionary basis, and $0 in client assets on a non-discretionary basis.